Venezuela’s Gas Deal with BP and Gulf Giants | Venezuela News

Venezuela News Today | 2 Min News | The Daily News Now! · Aug 30, 2026 · 1m

Venezuela’s acting government just struck a landmark deal to unlock its massive Loran gas field—4 trillion cubic feet—handing control to a BP-led consortium with partners from the UAE and Qatar. This move signals a major pivot toward boosting domestic gas supply and exports, following recent legal reforms that sweeten the deal for foreign investors. While BP and Shell already operate in key fields like Dragon and Cocuina-Manakin, PDVSA is notably absent from this phase. The influx of global energy giants reflects a broader geopolitical realignment, even as Venezuela’s oil output remains…